Gary Gensler confirms SEC has no plans to ban Bitcoin
TL;DR Breakdown Gary Gensler has also said USA is not planning to ban crypto like China. Gensler harps on need to regulate crypto and protect investors. Chairman of the Security Exchange Commission (SEC) Gary Gensler has aligned himself with chairman of the Federal Reserve, Jerome Powell, that the United State does not intend to place […]
Biden set to hold crunch meeting with 30 countries on ransomware attacks
TL;DR Breakdown Biden to hold talks with other world leaders on ransomware attacks. Meeting to create alliance among world leaders on combating cyber crimes. The United States of America is set to convene a meeting with 30 other world leaders to chart a way forward on ending ransomware attacks and illegal use of cryptocurrencies in […]
United States not planning to ban crypto – Powell
TL;DR Breakdown Jerome Powell says United States not placing ban on crypto like China. Powell notes that US need to work on crypto regulation. The Chairman of the United States Federal Reserve, Jerome Powell, has affirmed that the U.S. has absolutely no plans to ban cryptocurrencies. He made the declaration on Thursday during a two-hour-long […]
CFTC issues cease and desist order to 14 crypto firms, including Binance
TL;DR Breakdown CFTChas fired charges to 14 cryto firms for failing to register. BinanceFxTrade among entities queried by regulator. CFTC warns investors against patronizing unregistered platforms. Fourteen crypto firms have been issued a cease and desist order in the United States of America by the Commodity Futures Trading Commission (CFTC). The crypto firms, including the […]
Did you know? The Chinese government is the second-largest Bitcoin holder
TL; DR Breakdown: The Chinese government holds more than 194k Bitcoin, which was seized from the PlusToken scammers. Most countries gained cryptocurrencies via seizure, except for El Salvador which recently announced its Bitcoin reserve. Judging by the ongoing crypto regulatory tension and crackdown in China, one can easily conclude that the country is the most […]
Coinbase exchange set to propose regulatory framework for US authorities
TL;DR Breakdown Coinbase exchange to propose regulatory framework for US authorities next month. This is after SEC threatened to sue Coinbase. Coinbase rolls out vacancy to employ legal advisers to improve relationship with regulators. Coinbase exchange has said it wants to collaborate with US authorities and sketch out a “sensible regulation” for the crypto industry […]
Kart Racing League: GameFi project set to revolutionize crypto gaming
GameFi, Crypto gaming or “play-to-earn” games have become a fast-evolving trend in the crypto sector. GameFi refers to blockchain games that let players earn cryptocurrency by playing them. As cryptos continue to be a global phenomenon, industries all around the world key in the revolutionary technology. Online gaming, in particular, has become a breeding ground […]
US authorities begin investigating Binance exchange
TL;DR Breakdown US authorities investigating Binance for market manipulation. Binance responds, says it has zero tolerance for manipulation. US authorities, including the Commodity Futures Trading Commission (CFTC), have begun investigating Binance exchange for “possible insider trading and market manipulation.” Bloomberg reports that a broad investigation by US authorities into the exchange activities would be checked, […]
Gary Gensler: Why exchanges should register with SEC
TL;DR Breakdown Gary Gensler set to explain why crypto firms need to register with SEC. Gensler worried many crypto firms have listed securities in their trading market. SEC chair calls for global collaboration to regulate crypto space. Chairman of the Securities and Exchange Commission (SEC) Gary Gensler would be explaining why crypto exchanges need to […]
Michael Ackerman risks 20 years jail term after massive scam
TL;DR Breakdown 52-year-old crypto scammer defrauds investors of over $30m. Michael Ackerman, the scammer pleads guilty, ready to forfit properties to reduce his jail term. Michael Ackerman, who has pleaded guilty to an alleged $30 million crypto investment scam in the US, is set to be sentenced to over 20 years in jail. According to […]
Gary Gensler meets European Parliament on proper crypto regulation
TL;DR Breakdown Gary Gensler SEC chair meets European lawmakers on crypto regulation. Gensler says crypo exchange firms need regulation to stay relevant. Lawmakers, Regulators worried about crypto retail investors. Gary Gensler, Chairman of the American Security and Exchange Commission (SEC), has appeared before European legislators over the need for a collaborative effort to ensure proper […]
Arisebank CEO convicted for crypto fraud, jailed for 5 years
TL;DR Breakdown AriseBank CEO convicted for crypto fraud. CEO’s decentralized bank was an illusion along with Arisecoin. CEO has been involved in crypto fraud in the past. Jared Rice, Sr. Arisebank CEO (the first completely decentralized banking product that features one of the largest cryptocurrency platforms built), has been convicted for crypto fraud. The Arisebank […]
Bitcoin ATM operators unite to end money laundry
TL;DR Breakdown Bitcoin ATM operators unite to create CCC to end crypto money laundery. CCC to ensure BTM operators enforce KYC, AML checks. Bitcoin ATM continues to garner traction in the US. Bitcoin ATM operators in the United States of America have come together to create an association through which they can collectively combat money […]
Microsoft receives patent for cross-chain token management service
TL;DR Breakdown: Microsoft has been awarded a patent for a system that will allow easy token creation and management. The system will enable users to design the properties of their desire token in template format. The United States Patent and Trademark Office (USPTO) has granted technology giant Microsoft a blockchain-related patent for cross-chain token creation […]
US offers $10m to crypto hacker to track other Cybercriminals
TL;DR Breakdown Crypto hacker in US to get $10m to track other cyber criminals US using this approach to strengthen cyber defences US has been hit recently by several cyber hackers The United States Department of State has adopted a different approach of rewarding crypto hackers to catch cybercriminals. Crypto hackers are going to get […]
US legislator Patrick against SEC crypto regulation move
TL;DR Breakdown Rep. Patrick McHenry against SEC move for more power to regulate crypto SEC chairman, Garry Gensler wants more protection for crypto investors Patrick propose joint taskforce of SEC, CFTC other regulators to regulate crypto US legislator Patrick McHenry has opposed the Security and Exchange Commission (SEC) chairman’s recent move for more power so […]
Hospitality company, H Wood partners Bitcoin latinum to enter blockchain space
TL;DR Breakdown Hospitality company breaks in blockchain space with partnership with Bitcoin latinum Crypto continues to get broader acceptance across industries Bitcoin Latinum, the next-generation insured Bitcoin fork capable of massive transaction volume has announced partnership with Los Angeles-based luxury hospitality company, The h.wood Group. The partnership involves cross-promotional marketing initiatives, event sponsorships, endorsements, and […]
Coinbase exchange records historic Q2 profit
TL;DR Breakdown Coinbase record remarkable profit in Q2 Coinbase sees more institutional clients Exchange acquires Zabo, another crypto startup Top American crypto firm, Coinbase exchange has recorded remarkable revenue, profit in Q2 per its Q2-21 shareholder letter the firm released on Wednesday. Coinbase exchange also acknowledged in the letter that it recorded bumper profits in […]
Gary Gensler wants more crypto regulatory power for the SEC
TL;DR Breakdown SEC chair sends letter to senator Warren on crypto regulation. Gensler expresses worry about limited protection for crypto investors. In another attempt to put the crypto industry under control, Gary Gensler, chairman of the Security and Exchange Commission (SEC) has sent a letter to Senator Elizabeth Warren highlighting that investors in the crypto […]
Crisis rock Binance exchange as US CEO resigns
TL;DR Breakdown Binance US CEO, Brooks, resign Brooks resignation hints at friction in Binance In the wake of series of crackdown Binance exchange faces, another internal crisis appear to have set in for the number one crypto exchange firm. Binance US CEO, Brian Brooks, a former head of the Office of the Comptroller of the […]
Crypto industry revolt against planned crypto tax
TL;DR Breakdown US legislatures aim to impose massive tax on crypto actos Cryptoers says legislature move aims to kill crypto Stakeholders and other crypto industry members are currently revolting moves by the US legislature to subject cryptocurrency investors to massive tax obligations. According to members of the crypto community, the crypto tax amendment would have […]
PayPal CEO pitches digital wallets to be used for sending stimulus payment
TL;DR Breakdown PayPal CEO wants US to use digital wallets to disburse stimulus payments PayPal may be working on a digital wallet Schulman lauds CBDC idea Dan Schulman, Paypal CEO (Chief Executive Officer), has advised the United States government to look into using digital wallets for disbursing stimulus payments. There has been a persistent debate […]
Robinhood crypto team working on unique feature to protect investors from volatility
TL;DR Breakdown Robinhood to introduce new feature in crypto space to protecr investors from high volatility Robinhood CEO say unique feature has been in high demand from users Robinhood crypto and stock trading platform reportedly are working on a novel and unique feature that would safeguard user investments against high volatility. Bloomberg reported on Tuesday […]
Ransomware attacks persist as Kaseya refuse to pay attackers
TL;DR Breakdown Kaseya denies paying ransom to ransomware attackers. JBS, Colonial Pipeline pays ransome to hackers. Joe Biden takes active steps to end cyber attacks. The horrors of ransomware attacks persist despite continued efforts by American President Joe Biden and other countries to curb the attacks. However, the most recent Ransomware attack believed to be […]
SEC crackdown on crypto investment firms over fraud allegations
TL;DR Breakdown Crypto investment firms in trouble after mis-managing investors fund CEO Govil allegedly diverted investors stake for personal use Govil denies all allegations leveled against him by SEC The U.S. Securities and Exchange Commission has dragged crypto investment firms (Cemtrex Inc., and Telidyne Inc.) for allegedly defrauding investors. Both firms are controlled by Aron […]
Olympics 2022: US legislators forbid American athletes from using Digital Yuan
TL;DR Breakdown US legislators wants to stop American athletes from using digital yuan in the 2022 Olympics. Legislators allege digital yuan can be tracked and traced by China. Legislators claim new features have been deployed on WeChat to surveil and arrest China citizens by the Chinese government. Three US senators have signed a letter for […]
US knocks hard on ransomware attacks, creates task force for cybercriminals
TL;DR Breakdown US setup taskforce to fight ransomware attackers Ransomware attackers forced major US firms to pay ransom after hacks US plans $10m bounty on ransomware attackers Towards stamping out the menace of ransomware attacks, the United States has established a new task force mandated to combat cyberattacks and tracing crypto paid as ransom. According […]
China CBDC will be a cancer for US capitalism, says Kyle Bass
TL;DR Breakdown American billionaire Kyle Bass worried about China CBDC, says it is bad for US Kyle believes the Digital Yuan is communist, and against the US capitalist ideology China continues to lead global race in CBDC launch Kyle Bass, an American billionaire, founder, and CIO of Hayman Capital Management, has warned the US that […]
Ransomware attack: Biden calls on Putin to take action
TL;DR Breakdown Ransomware attack prompts Biden to call Putin to take action Biden threatens to take action if Putin does not act Putin’s response to Biden call unclear President of the United States of America, Joe Biden, has called on Russian President Vladimir Putin to take necessary action to fight ransomware attack. This comes two […]
Biden orders probe into IT firms ransomware attack
TL;DR Breakdown Biden angered by the recent ransomware hack on IT firms Why US is weary of Ransomware hacks Friday IT firms ransomware attack has angered the President of the United States of America, Joe Biden, prompting him to order a probe into the cybersecurity attack. The US President, who was displeased by the development, […]
Amidst $70m fine debacle, Robinhood files for IPO
TL;DR Breakdown Robinhood to debut in stock market Robinhood slammed $70M fine Popular crypto and stock trading platform Robinhood has applied with the US security and Exchange Commission to go public and raise funds through an initial public offering (IPO). This is according to a Form S-1 registration the firm filed before the SEC on […]
US senator encourages Bitcoin investment, warns against dollar depreciation
TL;DR Breakdown Senator Lummis calls for BTC investment among Americans Lummis predicts imminent fall in the value of USD Cynthia Lummis, a US politician, and senator has urged Americans to try and invest in Bitcoin as a hedge against dollar depreciation. She held that a falling value for the dollar is imminent, calling for Bitcoin […]
Crypto coin to be sold at U.S supermarkets
TL;DR Breakdown H-E-B supermarkets in Texas to get crypto ATMs How crypto ATMs would ease shopping for crypto coin shoppers About H-E-B and Cin Cloud ATM Texas State in the U.S., which continues to pride itself as a pro-crypto state, will soon offer crypto users the opportunity to buy and sell crypto coin at major […]
Digital dollar: Federal Reserve to unveil its research on a potential US CBDC
TL;DR Breakdown The US Federal Reserve is planning to unveil its research on a potential digital dollar in July. However, there are mixed feelings amongst banks and other financial institutions on the need for CBDC. The United States is among the countries researching a potential central bank digital currency (CBDC), although there’s currently no approval […]
US exchange, Coinbase postpones its direct listing to April
TL;DR Breakdown Coinbase proposed direct listing has been postponed to April, according to sources familiar with the matter. The exchange plans to sell about 114.9 million shares in the direct listing. The leading United States cryptocurrency exchange, Coinbase, has recently made headlines across multiple crypto and international media platforms because of its plan to go […]
US SEC publishes VanEck’s Bitcoin ETF application
TL;DR Breakdown VanEck’s Bitcoin ETF application has been published by the US SEC. The regulator has about 45 days to respond to the application. Many industry players in the US believe the country might gain its first ETF this year. The United States may or may not be seeing a Bitcoin exchange-traded fund (ETF) application […]
Kraken to consider direct public listing in 2022
TL;DR Breakdown Kraken might consider going public in 2022 via a direct listing. Coinbase and eToro are also preparing to debut on the stock market. Following Coinbase IPO announcement, some cryptocurrency exchanges are beginning to nurture plans for IPO (Initial Public Offering). Another leading US cryptocurrency exchange, Kraken, is planning to go public next year. […]
Dubai’s IBC Group bolsters Miami 2.0 Blockchain Strategy with $4.8 billion in Bitcoin
TL;DR Breakdown Dubai IBC Group is to commit 100,000 BTC to support Miami’s crypto hub vision. This is the largest fund ever pledged by the organization to bolster crypto adoption. Authorities in Miami have been actively working to establish the American city as a cryptocurrency and blockchain-friendly hub in the country. On several occasions, the […]
Andrew Yang plans to invest in New York as a Bitcoin hub
TL;DR Breakdown: Andrew Yang is planning to make NYC a crypto hub as mayor. Yang supported cryptocurrency and planned to make a regulatory framework for them during his presidential campaign. Andrew Yang, one of the crypto-friendly politicians in the United States, disclosed his intention to make New York a Bitcoin (BTC) and digital currency hub […]
The herds are coming, says Mike Novogratz
TL;DR Breakdown: Mike Novogratz says many companies in America will eventually add Bitcoin to their balance sheet. He also thinks that the price of the cryptocurrency will double in value as more firms will hold BTC. The founder and CEO of Galaxy Digital, Mike Novogratz, is among the many crypto industry players that believe Tesla’s […]
